Napco Security initiated with an Outperform at Mizuho

Mizuho initiated coverage of Napco Security (NSSC) with an Outperform rating and $39 price target The firm says Napco is a leading player in security with locking, alarms, and access control offerings. The company’s “key differentiator” is its StarLink radio and associated services, which enables a premium margin profile, the analyst tells investors in a research note. Mizuho believes Napco’s “unique” market position will benefit from a secular copper telephone wire replacement cycle.